@rtfktstudios
Nike is arguably the biggest brand in apparel so whenever they make a business move, the entire industry pays attention. The Swoosh doesn’t do too many acquisitions, but their latest might indicate their faith in the metaverse, crypto, and NFTs.
RTFKT Studios has just been acquired by Nike. For those unfamiliar, RTFKT is a pure NFT studio that creates digital collectibles such as sneakers.
President and CEO of Nike, John Donahoe, said of its new acquisition:
“We’re acquiring a very talented team of creators with an authentic and connected brand. Our plan is to invest in the RTFKT brand, serve and grow their innovative and creative community and extend Nike’s digital footprint and capabilities.”
The money amount for the acquisition was not disclosed. RTFKT raised $8 million back in May 2021 which catapulted the company to a $33.3 million valuation.
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